Some people can be jovial and matter-of-fact about the subject of death, which may make others uncomfortable. However, we at American Insure-All® love when Monroe residents can embrace the future and even be good-humored and good-natured about “the end.” Levity never fails to lighten a topic that, while necessary to discuss, is often seen as taboo. For us, we think of whole life insurance as an exit plan because our customers are preparing for the financial security of their loved ones after the policyholder has passed away.
Whole life insurance is a smart, strategic idea because it brings peace of mind to a policyholder. In the event of their death, their loved ones are financially taken care of, so they can adequately grieve without the heavy burden of money issues. Policyholders can divvy up insurance payouts to two beneficiaries, as well as to debt collectors and expenses for funerary arrangements. There have even been some cases where life insurance holders have left their money to pets, ensuring that their beloved animals are well-cared for when they can no longer be there for them.
Whole Life Insurance vs. Term Life Insurance
People that invest in whole life insurance are prepping for the duration of their lifetime. At the same time, term life insurance offers coverage for a specific time, such as five to ten years. With whole life insurance, policyholders have a cash savings element that they can either borrow from or pay into throughout their life. With updated premiums, policyholders can maintain insurance coverage until their dying day.
For loved ones, your death is hard enough without passing down the responsibilities of unpaid bills and debts. Have the foresight to protect those closest to you, at least financially, with whole life insurance. It’s an investment that could be necessary for your family’s comfort. Need more info? Call American Insure-All® in Monroe at (888) 411-2886.